Permanent financing of $60 million for the Arco Tower complex in downtown Long Beach has been arranged through the Denver office of L. J. Melody & Co., Houston-based mortgage banker and investment concern.
The financing for the complex, owned by Pacific Tower Associates, was provided by the Teacher Retirement System of Texas.
The twin 14-story towers in the Arco complex at 200-300 Ocean Blvd. contain more than 473,000 square feet of office space. Pacific Tower Associates is a partnership of Swig Weiler & Dinner Development Co., San Francisco, and Harry Macklowe of New York City.